Related Party Disclosures	3 Months Ended
Dec. 31, 2011
Related Party Disclosures
Related Party Transactions Disclosure [Text Block]	Note 8. Related Party Transactions Promissory Note On December 10, 2009, we issued a promissory note (the “Note”) with a principal amount of $500,000, together with accrued interest in the amount of $100,000 due and payable on May 10, 2010, to a director of the Company. The Note is in default and accordingly interest is charged at 18% per annum until such time as the note is paid in full. In consideration for the Note, we agreed to issue a warrant to the director to purchase a total of 2,000,000 shares of our common stock at an exercise price of $0.25 per share. These warrants were valued at $73,877 using the Black-Scholes option-pricing model with the following assumptions: applicable risk-free interest rate of 1%; volatility factor of 79%; and the expected life of the warrants of 5 years. The relative fair value of the warrants of $73,877 was recorded as a debt discount. This debt discount was amortized over the term of the Note using the effective interest method and we recognized $28,730 as a non-cash interest expense for the nine months ended December 31, 2010. No amortization was recognized during the three and nine months ended December 31, 2011 as it was fully amortized prior to that period. Interest expense accrued and or paid was $21,444 and $72,883 for the three and nine months ended December 31, 2011, respectively, and was none and $73,583 for the three and nine months ended December 31, 2010, respectively. The effective annual interest rate was 18% for the three and nine months ended December 31, 2011. During the nine month period ended December 31, 2011 we made payments of $100,000 which represented accrued interest. Amount Due to a Stockholder As of December 31, 2011 and March 31, 2011, the balance represented temporary advances made by one of our stockholders who is also a director of the Company. The advance is unsecured and interest-free. The stockholder has agreed that he will not request, seek or require repayment of any portion of the outstanding advance until such time as the current operations of the Company becomes profitable (as reflected by financial statements prepared in accordance with U.S. GAAP) and the Company generated gross revenues of in excess of $30,000,000.

Related Party Disclosures

3 Months Ended

Dec. 31, 2011

Note 8. Related Party Transactions

Promissory Note

On December 10, 2009, we issued a promissory note (the “Note”) with a principal amount of $500,000, together with accrued interest in the amount of $100,000 due and payable on May 10, 2010, to a director of the Company. The Note is in default and accordingly interest is charged at 18% per annum until such time as the note is paid in full. In consideration for the Note, we agreed to issue a warrant to the director to purchase a total of 2,000,000 shares of our common stock at an exercise price of $0.25 per share. These warrants were valued at $73,877 using the Black-Scholes option-pricing model with the following assumptions: applicable risk-free interest rate of 1%; volatility factor of 79%; and the expected life of the warrants of 5 years. The relative fair value of the warrants of $73,877 was recorded as a debt discount. This debt discount was amortized over the term of the Note using the effective interest method and we recognized $28,730 as a non-cash interest expense for the nine months ended December 31, 2010. No amortization was recognized during the three and nine months ended December 31, 2011 as it was fully amortized prior to that period. Interest expense accrued and or paid was $21,444 and $72,883 for the three and nine months ended December 31, 2011, respectively, and was none and $73,583 for the three and nine months ended December 31, 2010, respectively. The effective annual interest rate was 18% for the three and nine months ended December 31, 2011. During the nine month period ended December 31, 2011 we made payments of $100,000 which represented accrued interest.

Amount Due to a Stockholder

As of December 31, 2011 and March 31, 2011, the balance represented temporary advances made by one of our stockholders who is also a director of the Company. The advance is unsecured and interest-free. The stockholder has agreed that he will not request, seek or require repayment of any portion of the outstanding advance until such time as the current operations of the Company becomes profitable (as reflected by financial statements prepared in accordance with U.S. GAAP) and the Company generated gross revenues of in excess of $30,000,000.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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+ Details

AgriSolar Solutions, Inc. 10-Q